Parabis Group set for pre-pack break-up and sale

Most of the 2,000 jobs in Parabis Group are expected to be saved when the group is put into administration this week so that its main operating units, including its personal injury arm, can be sold off.

Plexis Law, the personal injury arm, is expected to be sold to an entity set up by its founder, Andrew McDougall. Parabis was the first private equity-backed firm to be given Alternative Business Structure status, allowing non-lawyers to become owners.

Shortfall of £20m

One insider told Sky News that the disposals would raise about £50m - about £20m less than the total for which Parabis is indebted. Source: Sky News

Parabis Group set for pre-pack break-up and sale

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